There are already a coupleof informative articles on this. Good as they are, I managed to run into a couple of problems that are not detailed on these articles possibly due to the fact that they were written a long time ago. Therefore this article, to help others (and me) who in the future wish to achieve the same that I did.

CREATE DATABASE databasename; (create a database, replacing databasename with the name that you wish to choose)

GRANT ALL PRIVILEGES ON databasename.* TO username@localhost IDENTIFIED by ‘password’; (Create a user for the above database, replacing username with the name that you intend to use. Similarly with password)